Premier: SME development in Armenia should lay groundwork for middle class formation

YEREVAN, March 4. /ARKA/. Development of small and mid-scale businesses in Armenia by effective distribution of financial means should serve to one of the most important objectives – formation of the middle class in the country, Prime Minister Tigran Sargsyan said Tuesday when presenting Armenia’s National Competitiveness Report for 2013 and 2014.

«This is not only economic, but also political matter, since civil society can't be formed without the middle class,» he said.

Sargsyan also stressed that formation of an active civil society, on its side, will lead to creation of a democratic society, without which market economy has no future.

«These objectives – economic and political – are closely tied to each other, and they are challenges today,» he said.

The premier stressed that SME development in the country should be supported by effective distribution of funds, and this is the government's second biggest objective after creation of competitive environment.

According to the annual report of the Armenia's SME Development Center, about AM D 150.8 million has been allocated from the 2013 government budget for implementation of the SME-supporting program. -0----